On Wednesday, DiamondRock Hospitality Company(NYSE:DRH)’s shares inclined 0.52% to $11.54.
DiamondRock Hospitality Company (DRH), a lodging-focused real estate investment trust that owns a portfolio of 29 premium hotels in the United States, recently declared results of operations for the quarter ended June 30, 2015.
Second Quarter 2015 Highlights
- Pro Forma RevPAR: Pro Forma RevPAR was $184.50, an enhance of 6.0% from the comparable period of 2014 and a new record for the Company.
- Pro Forma Hotel Adjusted EBITDA Margin: Pro Forma Hotel Adjusted EBITDA margin was 34.56%, an enhance of 166 basis points from 2014.
- Pro Forma Hotel Adjusted EBITDA: Pro Forma Hotel Adjusted EBITDA was $85.4 million, an enhance of 11.3% from 2014.
- Adjusted EBITDA: Adjusted EBITDA was $81.1 million, an enhance of 14.3% from 2014.
- Adjusted FFO: Adjusted FFO was $61.5 million and Adjusted FFO per diluted share was $0.31.
- Key West Acquisition:The Company attained the 184-suite Sheraton Suites Key West for $94.0 million on June 30, 2015.
DiamondRock Hospitality Company, a lodging focused real estate company, owns premium hotels and resorts in North America. The company operates its hotels under the Hilton, Marriott, and Westin brand names in New York, Los Angeles, Chicago, Boston, and Atlanta; and in destination resort locations, such as the United States Virgin Islands and Colorado.
Plains All American Pipeline, L.P. (NYSE:PAA)’s shares gained 0.32% to $34.93.
Plains All American Pipeline, L.P. (PAA) and Plains GP Holdings (PAGP ) stated second-quarter 2015 results.
PAA stated solid second quarter results, with adjusted EBITDA of $486 million, which was about $26 million above the mid-point of our quarterly guidance range, said Greg L. Armstrong, Chairman and CEO of Plains All American. PAA will pay a quarterly distribution of $0.695 per limited partner unit next week, which is the equivalent of $2.78 per unit on an annualized basis, while PAGP will pay a quarterly distribution of $0.227 per Class A share, or $0.908 per share on an annualized basis. These distributions represent a 7.8% and 23.8% enhance over comparative distributions paid in the same quarter of 2014, respectively.
Armstrong added, Based on this outlook, we have reduced the midpoint of our full-year guidance for adjusted EBITDA by $50 million. The resulting midpoint guidance of $2.275 billion remains in line with the full-year guidance range offered at the starting of the year, albeit near the lower end of the initial range. Importantly, PAA remains well positioned to manage through industry down cycles and capitalize on attractive opportunities as it ended the second quarter of 2015 with about $3.1 billion of committed liquidity, a strong balance sheet and credit metrics that comprise with our targeted levels.
Plains All American Pipeline, L.P., through with its auxiliaries, engages in the transportation, storage, terminal ling, and marketing of crude oil, natural gas liquids (NGL), natural gas, and refined products in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment transports crude oil and NGL through pipelines, gathering systems, trucks, and barges.
At the end of Wednesday’s trade, Take-Two Interactive Software, Inc. (NASDAQ:TTWO)‘s shares surged 1.27% to $28.71.
Lionsgate (LGF), a premier next generation global content leader, is teaming with the publisher and creators of Borderlands®, and renowned producers Avi and Ari Arad to adapt Gearbox Software’s critically-acclaimed blockbuster video game Borderlands into a tent-pole feature film, the parties declared recently. Borderlands is an action role-playing first-person shooter video game created and developed by Gearbox Software and published by 2K, a wholly owned label of Take-Two Interactive Software, Inc. (TTWO).
The award-winning Borderlands franchise has been lauded by critics and over the years has built a passionate global fan base, shipping more than 26 million copies around the world since its launch in 2009, counting 8 million copies shipped during Take Two’s fiscal year 2015 alone. Set in the frontier of a sci-fi universe, Borderlands is best known for Gearbox’s blending of irreverent humor and characters, with a unique comic-book art style, and co-operative four-player genre-bending, loot-grabbing gameplay. It’s a franchise that in the last six years has ushered in a new and popular category of first-person shooters.
Take-Two Interactive Software, Inc. develops, publishes, and markets interactive entertainment for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead names through developing sequels; offering downloadable episodes, and content and currency; and releasing titles for smartphones and tablets.
Bob Evans Farms Inc (NASDAQ:BOBE), ended its Wednesday’s trading session with 7.87% gain, and closed at $47.97.
Bob Evans Farms, Inc. (BOBE) declared its financial results for the fiscal 2016 first quarter ended Friday, July 24, 2015. On a GAAP basis, the Company stated net income of $4.3 million, or $0.19 per diluted share, contrast with a net loss of $1.0 million, or $0.04 per diluted share, in the corresponding period last year. On an adjusted basis(1)
First quarter fiscal 2016 commentary
Executive Chairman Doug Benham said, “Our teams remain laser-focused on continuous improvement in both of our businesses and execution of our planned initiatives. BEF Foods is achieving promising results. At Bob Evan’s Restaurants, we are implementing our strategy of improving the quality of our food offerings; significantly lowering discounting that was historically utilized to drive transactions; and optimizing our investments in labor to deliver a better guest experience. We are ongoing our CEO search as the CEO Search Committee of the Board of Directors remains engaged in a thoughtful and thorough process to identify and appoint the right chief executive to lead the Company forward.”
Chief Financial Officer Mark Hood said, “We continued to make progress in the improvement of Bob Evans Farms’ operating performance during the first quarter of fiscal 2016. The improvement continues to be led by BEF Foods which posted strong operating results for the third successive quarter. We also saw improvement in Bob Evans Restaurants’ operating performance during the quarter. Although same-store sales declined by 0.3 percent, sales were more profitable.
Bob Evans Farms, Inc. owns and operates full-service restaurants under the Bob Evans Restaurants brand name in the United States. The company conducts its operations through Bob Evans Restaurants and BEF Foods segments. As of April 24, 2015, it owned and operated 567 Bob Evans Restaurants in 19 states, primarily in the Midwest, mid-Atlantic, and Southeast regions of the United States.
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